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Highlights
Provaris Energy (ASX:PV1) initiates Yinson-funded FEED program for proprietary LCO₂ tank
Development to focus on integration with offshore Floating Storage Injection Unit
Design aims to improve hull utilisation and reduce freight-related costs in CCS shipping
asx 200 listed Provaris Energy (ASX:PV1) has commenced a fully funded front-end engineering design program for its proprietary large-scale low-pressure liquid carbon dioxide tank. The initiative is being undertaken in collaboration with Yinson Production AS to advance the commercial readiness of the design for application in offshore carbon capture and storage operations.
Engineering and integration objectives
The FEED phase will involve structural engineering, hull integration, and compliance with maritime construction standards. The process includes the production of experimental test sections at Provaris’ robotic fabrication facility in Norway, with a focus on steel weight optimisation and automated assembly methods.
Joint venture and intellectual property development
Provaris and Yinson plan to form a joint venture company with equal ownership and licensing rights to the tank’s intellectual property. This will enable the application of the design in both marine-based and onshore storage systems for carbon capture and transportation.
Insights from Asian maritime market
Engagement with major Asian shipping operators confirmed interest in large-capacity low-pressure LCO₂ tanks. Industry feedback indicated a preference for designs that allow for fewer, larger tanks, thereby enhancing vessel efficiency and reducing freight costs. The concept aligns with emerging needs in both Asian and European carbon storage supply chains.
Advancements in tank construction technology
Provaris’ design incorporates layered construction using standard carbon steel plates, reducing the need for specialised high-yield materials. This approach helps address fabrication challenges while supporting larger capacity tanks. Robotic automation and precision laser welding techniques are integrated to improve manufacturing accuracy and reduce production costs.
Contribution to CCS and hydrogen applications
While the current FEED program focuses on Yinson’s floating unit project, the technology also supports future applications in compressed hydrogen storage. The engineering data obtained from this program will assist in the development of large-scale storage solutions essential for maritime transport within carbon capture supply chains.
Frequently Asked Questions
- What is the FEED program?
It is a detailed engineering phase aimed at developing final technical designs before full-scale construction. - What sector does Provaris Energy operate in?
It operates within the energy transition sector, focusing on carbon capture and clean fuel shipping solutions. - What is the purpose of the large-scale LCO₂ tank?
It is designed for efficient storage and shipping of low-pressure liquid carbon dioxide for CCS projects.
